Rent reduction in Salmiya and Sulaibikhat

July 8, 20170 Comments

According to an investigative report conducted by the daily, rents of apartments in Kuwait have dropped by up to KD 100 in various areas depending on several factors related to the location and type of the apartment.

In this regard, the Secretary General of Real Estate Union Qais Al-Ghanim said, “Any increase in the rent of accommodation in Kuwait has completely stopped. In fact, it is currently difficult to talk about increasing rents”.

He affirmed that the rents have dropped but it is difficult to determine the reduction rate if it is more or less than one-third, as every area is governed by different factors in this regard.

Al-Ghanim explained that Salmiya area has witnessed some reduction in rents although it is not possible to determine the exact rate due to lack of official statistics. Riggae area continues to maintain its rent value due to its proximity to military establishments and health areas as well as several active areas in the country.

In Sulaibikhat, the rents have dropped due to its location, which is far from active areas. He revealed that in areas like Sulaibikhat, an expatriate can find a big apartment for about KD 250 per month, indicating that it will be possible to estimate the reduction rate of rent value in September due to the fact that it coincides with resumption of work after the summer holidays.

Source : Arabtimes

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